Kotak Saral Jeevan Bima Plan

Simple term insurance to provide financial security to your family

Flexibility of a limited premium payment period

Premiums can be paid monthly, quarterly, half-yearly or annually

Special rates for female lives

Tax Benefits on Premiums paid and Death Benefit

The plan can be purchased online

In case of death of the policyholder during the policy term, the Sum Assured on Death will be paid to the nominee. The Sum Assured on Death on all these options is defined as:

For Regular and Limited Payment Options, higher of -

• 10 times of Annualised Premium
• Cover amount
• 105% of the Total Premiums Paid as on date of death

For Single Pay Option, higher of -

• Cover amount
• 1.25 times the Single Premium

This plan has a waiting period of 45 days from the date of acceptance of risk. In case of death of the policyholder during the 45 day waiting period, the total premiums paid will be returned to the nominee. However, if the death is due to an accident, the total Sum Assured on Death is paid to the nominee.

In case you are not satisfied with the policy after receiving the policy documents, you can cancel the policy and get a refund. The can cancel the policy within the freelook period as defined here:

• Within 15 days in case the policy is not purchased electronically or through distance marketing
• Within 30 days in case the policy is purchased electronically or through distance marketing

There is no surrender value in this plan.

In case you have missed the premiums and the policy has lapsed, you can revive the policy within 5 years from the last unpaid due date, but before the policy term expiry. You will have to pay all unpaid premiums without any interest.